Vietnam and Cambodia on Tuesday agreed to further strengthen and expand their friendship and cooperation, mainly in the economic field.
The agreement was reached in Phnom Penh between Cambodian Prime Minister Hun Sen and his visiting Vietnamese counterpart Pham Minh Chinh during their talks in the morning, the Vietnamese government’s portal said.
The two countries will continue to exchange high-level visits and promote their economic ties, boosting cross-border trade and opening more border crossings for imports and exports.
The prime ministers also agreed to foster land, sea, and air connectivity between the two neighbors, and their digital cooperation.
The two leaders then witnessed the signing ceremony of 11 documents of bilateral cooperation. They cover the areas of land transport; agricultural cooperation; border trade; commerce; TV and radio cooperation; telecommunications, ICT, and digital transformation; labor; financial innovation and payment systems; and so on.
The Vietnamese PM arrived in Cambodia’s Phnom Penh on Tuesday morning for a two-day official visit and for the 40th and 41st ASEAN Summits and Related Summits this week.
Vietnam's official data shows that two-way trade exceeded $9.5 billion in 2021, up by almost 80% against 2020; and reached $8.45 billion in the first nine months of 2022, up 16.7% year-on-year. Their trade is relatively balanced.
To date, Vietnam has 198 valid investment projects in Cambodia with a total registered capital of $2.92 billion, ranking first among ASEAN investors and one of the top five countries with highest investment levels in the kingdom.